Gift tax
This query is : Open
Anurag Kedia
(Querist)
23 July 2015
Sir, If a immovable property is received by a unregistered society as a gift by a unregistered trust, then in that case what are the tax obligation on society under section 56(2)(vii)
Rupesh Jain
(Expert)
23 July 2015
in case of recipient its applicable to individual or huf not on other .
CA Aneesh Jain
(Expert)
23 July 2015
It will be taxable as section 56(2)vii is applicable on individual and huf only.
Anurag Kedia
(Querist)
23 July 2015
Thank for the kind reply but as society is not treated as individual in that case we can avoid gift tax
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Transfer of Physical Stock Between Two Proprietorship Concerns
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- Oct 2025 Invoices
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
